Cavco Industries (NASDAQ:CVCO) PT Raised to $422.00

Cavco Industries (NASDAQ:CVCO) had its target price increased by stock analysts at Craig Hallum from $382.00 to $422.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Craig Hallum’s price target suggests a potential upside of 13.37% from the stock’s current price.

Separately, Wedbush reissued an “outperform” rating and set a $425.00 target price on shares of Cavco Industries in a research report on Friday.

Cavco Industries Trading Down 2.8 %

Cavco Industries stock traded down $10.73 during midday trading on Monday, reaching $372.24. The stock had a trading volume of 16,340 shares, compared to its average volume of 64,912. The company has a fifty day moving average price of $365.66 and a two-hundred day moving average price of $366.00. The company has a market capitalization of $3.08 billion, a P/E ratio of 20.08 and a beta of 1.23. Cavco Industries has a 12 month low of $233.84 and a 12 month high of $426.41.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). The firm had revenue of $477.60 million during the quarter, compared to the consensus estimate of $487.80 million. Cavco Industries had a return on equity of 14.30% and a net margin of 8.12%. During the same quarter in the prior year, the business earned $5.29 earnings per share. On average, equities research analysts predict that Cavco Industries will post 19.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cavco Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in Cavco Industries by 1,477.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,663 shares of the construction company’s stock worth $1,963,000 after acquiring an additional 5,304 shares during the last quarter. First Eagle Investment Management LLC lifted its position in shares of Cavco Industries by 28.8% during the first quarter. First Eagle Investment Management LLC now owns 12,328 shares of the construction company’s stock valued at $4,920,000 after purchasing an additional 2,760 shares in the last quarter. Cerity Partners LLC purchased a new position in Cavco Industries during the fourth quarter worth about $6,085,000. Osterweis Capital Management Inc. grew its position in Cavco Industries by 25.8% in the 4th quarter. Osterweis Capital Management Inc. now owns 24,372 shares of the construction company’s stock worth $8,448,000 after purchasing an additional 5,004 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Cavco Industries by 7.1% in the 1st quarter. Bessemer Group Inc. now owns 34,252 shares of the construction company’s stock valued at $13,668,000 after buying an additional 2,263 shares during the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

About Cavco Industries

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.